My column on TaxationWeb continues. Right now it's intro reads:
Richard Murphy considers some of the principal tenets of the UK taxation system and asks if they are in need of a serious overhaul.
Which is fair enough; that's exactly what I do, and suggest it's time we laid Adam Smith to rest when it comes to the design of a good taxation system.
I don’t think that Smith was wrong when he said that the first thing that should be taxed is land rent since this is entirely unearned. He was after all a moral philosopher.